Circle Energy is an early-stage oil and gas exploration company focused on the Permian Basin in Texas. The company has no producing wells, no proved reserves, and no revenue. Its only asset is a 75% working interest and a 55.5% net revenue interest in an 80-acre tract in Andrews County, Texas, held through a farmout agreement with the original leaseholder, Aspen. Under that agreement, Circle Energy must drill at least two wells — one on each 40-acre tract — by May 2028, or the rights to any undrilled tract revert to Aspen. The intended business model is straightforward: drill wells, produce oil and gas, and sell production at market prices. As a 75% working interest owner, Circle Energy would bear 75% of drilling and operating costs in exchange for 75% of production. Circle Energy has no employees; executive officers manage operations using outside contractors and consultants. The company's near-term priority is raising capital, as it cannot drill or meet its farmout obligations without outside financing. Circle Energy's growth strategy is to acquire additional acreage in Andrews County and surrounding areas through a joint venture covering roughly 880 acres around its existing lease, under which any acquired acreage would carry the same ownership structure.